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Search Results 0 to 49 of about 2,298 (some duplicates have been removed)
Jul 27, 2011 7:30pm PDT
million. this is, with financing and the city is not responsible for the repayment of those bonds. indeed, they would be repaid from the longstanding tax credit program, as well as hud section 202 financing. that is a very competitive process. that financing would be used to pay the bond. we are only asking authorization to apply, and then we would come back to the board in the spring of 2012 to seek authorization to issue the bond. in terms of the project itself, 90 units of senior housing above the redevelop st. anthony's dining room at the corner of golden gate and jones. it will be a wonderful project was completed. with the redevelopment of this site, we will be able to serve more people in the tenderloin and surrounding communities. supervisor chu: just a quick question with regards to the ability, obligation to pay this back. this is not a general fund obligation? >> absolutely not. true, but financing. supervisor chu: supervisor kim? supervisor kim: i am excited about this project moving forward. i'm excited to be a partner in this. there is a lot happening on this block. it is a
Jul 27, 2011 11:30am PDT
, i believe the department of finance will be providing agencies with the number they believe is the amount due, in order to lift the suspension. we believe they did not calculate some of our debt obligations, so as a result, would potentially reduce the amount we would have to pay. right now, we estimate the amount around $26 million. we think it might be slightly lower. once the department of finance gives us a number, we will have a short window to apply and provide that information. so this provides some clarity. supervisor chu: will they also be providing with the ongoing obligation will be? >> we believe so, yes. supervisor chu: from my perspective, we do not have a budget analyst's report on this item, because there is not get a specific plan associated with this resolution. so today, as we are acting on this resolution, we are not committing the city to anything just yet. that may come later on as we have time. just for the department's understanding -- and i know i have a conversation with our budget analyst. i would really like to see even supporting this resolution
Jul 2, 2011 1:30am PDT
, and they did complete the review. also, you requested a breakdown of how we expect public financing expenditures in 2012 to pan out. i did forward the document to all of you with that breakdown. the only other thing i would highlights while i am here today, last week, i told you the total funds distributed under the public financing program was $1,674,000, and in the seven days since i gave you that figure, an additional $826,869 has been distributed in the last week, bringing us up, that much closer to our estimate. i do not know we will hit the $3.1 million by this thursday, but we're going to come very close. at this point, we are just over $2.5 million in expenditures for this fiscal year on the mural public finance program. supervisor chu: with regards to the campaign fund, we have a balance sitting there that will be carrying forwardthe mayor's s an additional amount in the budget as well. to the extent that, come november, after the mayor's race is completed, and all the public drawdowns have been completed and verified, if there is a huge remaining balance, is there any prov
Jul 12, 2011 3:00pm PDT
financing code. in we approved a provision that under circumstances caps would get lifted if additional funds appeared in canada it racist. arizona had eight similar law. -- had a similar law. the supreme court struck down that financing law. today, we have a public campaign financing law on the books and we have a decision to make. we can either do what the ethics commission did yesterday and proactively amend the law or we can wait for a plaintiff to sue. to me it is a no-brainer, especially when we just approved a $290,000 supplement to plaintiffs in a similar situation the other year. i do not want to waste additional taxpayer funds. this will amend our public financing code to bring it into line with the u.s. supreme court decision. it will allow financing campaign caps to continue to get raised above initial caps, but does not allow further public financing dollars to be allocated beyond the initial cap. i understand there will be significant dialogue about this cap as a will have an impact on the mayor's race and supervisor races. it requires a super majority vote at the board to
Jul 13, 2011 6:00pm PDT
into question the authority of some of the financial institutions upon which global financing -- global financing is based. breaking the power of the closed club of rating agencies. the justice commissioner has called for them to be broken up saying that the hero must not be brought to ruin by three private u.s. companies. at the finance commissioner has described the three as a cartel. >> standard and poor's, moody's, and fitch all have their headquarters in the heart of manhattan. these agencies have a 95% market share of the ratings market. they decide how creditworthy countries and companies are. and they have a massive effect on the fate of europe's economies. there are plenty that want to and the stranglehold of the big three. >> is not good when the entire world is being governed by three american companies. it would be better if there were more competition. and i would be very keen to see european and asian agencies as well. the situation as it is now is not healthy and we must put and intellect. -- an end to it. >> european lawmakers helped create that unhealthy situation. the
Jul 13, 2011 12:00pm PDT
finance reports, using conservative estimates, the total cost of issuing the proposed to tickets of participation would be $316,280,000. that includes the project cost and related expenses, and included the interest cost estimated at $148,165,000. annual interest rate of 5.63% on the cop's. average cost to the city general fund would be about $12,165,00 for a period of 12 years. the cost of financing the $132 million in improvements to the veterans building through the use of general obligation bonds would be an estimated $228,520,000. that is a $7 million less than the cost of funding and the improvements using the proposed cop's. furthermore because general obligation bonds are financed through property taxes, financing would have effectively have no impact on the city's general fund, whereas the proposed cop's do not include a new source of revenue and require general fund expenditures of approximately $12 million per year. however, having said that, it is reported to us that under g.o. bonds, voter approval would be required. city officials that we dealt with, including the c
Jul 17, 2011 12:30pm PDT
in an aggregate principal amount of not to exceed $170,000,000 to: 1) finance the seismic upgrade of and certain improvements to the war memorial veterans building; 2) authorizing the building. supervisor chiu: today i urge support to bring these seismic upgrades to the war memorial veterans building. in short, this building needs help very badly. and he has a shoveler in he did drop with velvet in the building. there are many unique steps -- sculptures and architecture within that building. the theater holds more performances and events annually than any similarly sized venue in the country. unfortunately it has significant seismic deficiencies. it poses significant life hazards to occupants in major earthquakes. i was told about certain chunks of the building that were very challenged in the 1999 earthquake. they are trying to make sure that no one gets hurt in that building in the future. then there is the current use of power that adds to the concerns we have. you will hear more in detail in a moment, but this would authorize the city to issue an amount not to exceed $170 million in particip
Jul 3, 2011 11:30am PDT
be supplemental appropriation to ensure the candidates would receive what they were entitled to in financing. it is really a balance about making sure we are allocating our money appropriately, while still being committed to public financing. supervisor chu: thank you. mr. rose? >> manager, actually we have no other comments. as the department indicated, we do not have any recommendations. supervisor chu: thank you. thank you for the report. given that we know the conservative estimates may add a balance of $3.5 million after this year's election and every year thereafter we will necessarily be putting in another $2.2 million because of the mandatory $2.75 per resident, we get to where we will have $12 million again in the year 2016, where hypothetically we will have an incumbent mayor. at some point, we do need to evaluate the levels of funding we are putting in their. we had not had a mayor's race yet. this will be the first mayor's race we will see. maybe that will be informative going for. supervisor wiener: it will be $9,900,000 for next year's supervisors' races. that leaves us with $2
Jul 20, 2011 11:30am PDT
of tax- exempt bonds by the california municipal finance authority in an aggregate principal amount not to exceed $11,000,000 to finance various capital facilities owned or leased by children's day school. supervisor chu: thank you very much. >> good morning. we are here before you to approve the issuance of bonds for purposes of federal tax law issuance. the public being financed, including acquisition of property at 605-601 delores' street. as you mentioned, the director of finance obligations is available, should you have any questions on the process. supervisor chu: body, would you like to say few words? let's thank you. we are expanding. the program is growing. we need additional facilities. this would allow us to have a satellite campus. supervisor chu: general expansion of space. this item does not have a budget analyst report because there is no fiscal impact on the city. we would not be liable for any payments associated with this item. let's open this up for public comment. would any members of the public wish to speak? seeing no one, public comment is closed. we have a mo
Jul 1, 2011 3:30pm PDT
now in an amount not to exceed $41 million to provide financing for a rental housing project. supervisor mar: 90. this is sponsored by supervisor cohen as well. -- thank you. supervisor cohen: thank you very much. supervisor mar: if people could take the conversations outside the chambers, that would be appreciated. supervisor cohen: thank you. item four is a multifamily housing revenue note, and with that said, and i am going to and by the mayor's office of housing to come up and make a presentation. thank you. >> good afternoon, supervisors. >> the resolution before you is authorizing the city to enter into a multifamily housing revenue note and related documents for an amount not to exceed $41 million. the financing would be used to help reconstruct the hunters view public housing. a severely distressed public housing development in the hunters point neighborhood. it will be using financing from our office. the federal home loan bank, san francisco housing authority, low-income housing tax credits. it will replace 80 out of the 267 public housing units in the neighborhood
Jul 6, 2011 2:35am EDT
dreams really do come true. welcome to the auto finance network - exclusive home of you guessed it! "crazy 88" during this unprecedented event - we're going to guarantee you three things 88 dollar down payments 88 dollar monthly payments and guaranteed credit. that's right because with the auto finance network "everybody rides" regardless of how severe your past credit circumstances may have been. when it comes to credit nobody can even come close to the team here at the auto finance network and during this "crazy 88" event we've even brought in re-enforcements. they help thousands and thousands of people drive the car of their dreams every single day - people who never thought they would get financing, people who had been turned down multiple times by other dealers in the area, people who'd been turned down the very same day - they drove away in the car of their dreams with payments they loved thanks to the good people here at auto finance network. there is never any pressure, hassles or embarrassment here - i can assure you of that! i'd like to take a minute to talk to about some
Jul 11, 2011 6:00pm PDT
. eurozone finance ministers have been discussing options for resolving recent ongoing -- greece's ongoing debt crisis as a u.s. rating agencies claim there's no threat of default in the eurozone goes the third largest economy, italy. angela merkel called on the parliament in rome to respond by approving spending cuts, but so far, the italian government and lawmakers have yet to agree on a common way forward. suddenly, this man is in the sights of the markets. the italian finance minister. he has long been seen as an anchor of stability in the government, but a corruption scandal around a close adviser and disputes with cabinet colleagues have thrown his future in doubt. now investors are worried his latest austerity plan will not get through parliament, and those worries are driving up italy's borrowing costs. berlin is trying to calm things down. >> i have great confidence that the italian government will pass the budget. i spoke about parsley -- precisely that with the italian minister on the telephone yesterday. it will make it clear that italy is committed to consolidation and tacklin
Jul 29, 2011 11:30am PDT
portion, right? >> let's talk about the financing. what we want to do is to financial assistance. the way that you build something is that you have investors or customers. what they would like us to do is to build something with need their. the only investors would be the puc. if we don't have any program, we have no customers. thinking that there is a program that you could build out local generations without a source of funding does not really work. i think that some of the stakeholders have understood which took us several years to explain that they're not free. if you issue bonds, someone must pay them back. if you're going to issue bonds, you have to of customers to pay them back or have some revenue stream to pay them back. that is not a clear concept that is in this scope. this scope says that you should be building. that is not something that works for me. there is a lot problems to try to go out and see how you might do a pro forma so that you could build something, be happy to work on that. if you would do solar, how you would afford to pay for it, all the regulations that you d
Jul 12, 2011 4:00pm PDT
drove shares lower. that is all happening against the backdrop of the meeting of euro zone finance ministers to discuss a second bailout of greece. >> europe's debt crisis spread dangerously far today to the third and biggest economy in the bureau's own. the interest rates and charges to borrow money have been rising. spain also faced similar pressure. two huge economies being rattled by the greek debt crisis. they gathered, not to officially discuss in italy. there used to be an assumption that this bank a country uses a euro, when lending to that country is safe. they are worried that they might not care about all of the money that they lent to greece. they might be rethinking the way they lend to countries that are heavily in debt. >> sorting of greece is crucial. finance minister say that they have now agreed to work quickly on a second bailout for greece. they said that they would increase the size of the rescue mission -- rescue mechanism currently in place. >> we have made significant progress yesterday. i am certain that shortly we will be able to present the concrete propo
Jul 1, 2011 8:00pm EDT
campaign finance regulations the court's latest ruling on campaign finance represents a ghastly attempt it kill off any future possibilities of reform. on monday the supreme court stuck drown a provision in arizona clean election act that provided additional funds to candidates who chose to accept public financing instead of private financing. here's how that law worked. if you run for office in arizona you can choose to be a publicly or privately funded candidate. about two-thirds of candidates in arizona opt for public financing. those candidates had access to an initial lump sum's public money to fund their campaign, but if their privately afunded poent or ally spend more money on their campaign than the publicly funded candidate received in their initial state grant, the state gives the public candidate additional, nearly matching, funds. to put it in terms of sean connery in "the untouchables" if you're the publicly fngsed candidate and you bring a knife and your opponent brings a gun, the state gives you a gun as well. the publicly funded candidate can't spend more than three time
Jul 12, 2011 4:00am EDT
finance and criminal allegations, the whirlwinds rocking rupert murdoch's mighty mediame empire. >>> markets in europe are deep in the red on heels of steep markets across asia. how are things moving where you are? >> down, a third session of losses and quite heavy ones. let's check in with the markets. really quite heavy, off by more than 2%, comfortably more than 2%, and with the paris and zurich off by 2.1%, zurich off by more than 2.1% and the same theme as we saw in monday's session which is the banks very heavily being sold at the moment heavily, there is clearing great deal of worry about the contagion spreading to italy about this moving into a generalized crisis with a lot of banks really coming under pressure with non-performing government bonds on their books, and just one other theme, thomas cook is down on a profit warning, but really the whole worry about italy's finances very much putting all of that in state and look at that on the milan stock exchange we're looking at a punishing session off by 4.25%. let's move on to the currency markets not surprisingly we're
Jul 12, 2011 2:30pm PDT
of spain and italy drove shares even lower. after the second day of talks, finance ministers still have to reach agreement over a second bailout for greece. from brussels, matthew price reports. >> europe's debt crisis spread to the third-biggest economy in the euro zone, italy. the interest rates have been rising sharply. let's hope we do not end up like agrees, this man said. spain faced similar pressure -- like greece, this man said. spain faced similar pressure. in brussels, the european finance ministers gathered, not to discuss italy officially. there used to be an assumption that if the country uses the hero, lending money to the country was basically -- euro, lending money to the country was basically safe. the great crisis has now changed that -- greek crisis has now changed that and they are rethinking the terms by which they lent to other countries that are heavily in debt. that is why interest rates to italy and other countries are currently going up. sorting out greece is crucial. finance ministers have agreed to work quickly on a second bailout for greece. they said it wou
Jul 4, 2011 4:30pm PDT
lines of credit, which in many cases do not exist anymore, also as a source for financing their business. as far as doing public contracting, one thing about public contract in that you can count on is the city of san francisco will stay in business and pay its debt, just later than you would like it to be. when you're doing public contract thing, if you will, cash cycle -- when you do the work and when you get paid is something you have to factor into your understanding of capital needs. so you have to figure that into the process. usually, that is figured into the pricing. but it is also the case that would you also probably need is a line of credit. depending on whether you feel your credit situation is where you want to go to a bank like wells fargo or another regulated bank, and line of credit, or work for a working- capital type of loan, which is something you look to do, the opportunity fund. you probably want to try both avenues. as far as your credit scores, everyone realizes, everyone here has a credit score. the first thing any lender will look at is your credit score. after l
Jul 12, 2011 11:00pm PDT
of non-residential properties and residential properties with five or more units to finance eligible green improvements on privately-owned buildings. the owners must consent to a special access assessment and agree to repay the finance amount on the property tax bill. green finance sf will arrange an owner-arranged paid financing model as a vehicle to deliver capital for energy efficiency and water conservation retrofits. on a lighter note, i was happy to join the san francisco city and the arts commission on saturday during sunday streets for their free performance in the park. the performance or ski, rimsky- korsakov, and "night on bald mountain." they perform beethoven's fifth. there were lots of children. it was wonderful. i would like to plug their upcoming free performance on sunday, july 24. i hope to see lots of people out there. just as a plug for community programming of the san francisco symphony -- they provide music education for every single first through fifth grade student at every public school in the city. they were especially great in providing curriculum to -- my
Jul 24, 2011 9:30am EDT
business and personal finance here in the washington region. coming up, why the debt so down in washington could cost five states their credit rating, including virginia and maryland, and what that could mean for you. also, a new weekly segment -- spotlight on small business. thus the phrase "time is monday" rings as true today as it did when ben franklin first said it. on the money side, we have paul cocozza with cocozza financial planning in arlington and on the flip side, heaer cocozza, who specializes in message and business organization. welcome to you both. you do not usually work jointly but, paul, i have been interviewing you for some time, and it struck me that it made sense that people might want to consult with both of you together. paul, i will start with you first. we have the spotlight on small business. whether you are a small business person or financial investor, what are some of the most common mistakes you see even smart investors making? >> in washington, we do not make mistakes. i like to think of them as areas of neglect. let me touch on four basic ones i see in doing
Search Results 0 to 49 of about 2,298 (some duplicates have been removed)